Only 11.22% of purchase-money mortgages purchased by the GSEs in the first quarter had FICO credit scores below 700. That was down from 12.05% in the fourth quarter and 14.66% a year ago.

Believe it or not, purchase loan applications increased 16.4% in Washington, one of the first states ravished by the pandemic...

For certain residential mortgages, including refis, banks can delay obtaining an appraisal for up to 120 days after a loan closes.

In the home equity department, BofA actually increased lending to $3.02 billion in the first quarter from $2.99 billion in 4Q19.

Federal and state laws prohibit intentional discrimination against protected groups...

On the servicing front the news was grim. Wells revealed that its massive residential servicing portfolio declined in value by 29.4% from the prior period: $8.13 billion at March 31 compared to $11.52 billion at yearend.

Ocwen said it received written notification on the violation from the NYSE on April 8.

The Ginnie Mae portion is $130 billion: Forbearance requests on 5.89% of $2.2 trillion worth of FHA/VA loans that back GNMA MBS.

In a nutshell, depository institutions managed to increase their sales of refinance loans sequentially while IMBs saw a drop...

In an industry update, Keefe, Bruyette & Woods predicts it may still take some time before the establishment of an emergency funding facility for residential servicers with MBS payments coming due.